Is Nokomis, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Nokomis has remained a Seller's Market.
Key Takeaway
Nokomis is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Nokomis, MN
How much do homes in Nokomis, MN cost?
Median Sold Price
$360,933
$236/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Nokomis have sold for 4.3% more than they did a year ago.
Summary: The median home sold price in Nokomis was $360,933 in April 2024, up 4.3% from last year, and the median price per square foot was $236.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $204K | $196.2K | -3.8% |
| 2 Bedrooms | $285K | $281.5K | -1.2% |
| 3 Bedrooms | $359.3K | $377.5K | +5.1% |
| 4 Bedrooms | $430K | $441.5K | +2.7% |
| 5+ Bedrooms | $489.5K | $590.1K | +20.6% |
Summary: Nokomis housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 3.8%, 2 bedroom homes decreased by 1.2%, 3 bedroom homes increased by 5.1%, 4 bedroom homes increased by 2.7%, and 5+ bedroom homes increased by 20.6%.
Median Sold Price Compared To Nearby Neighborhoods
| Keewaydin | $358.5K | $390K | +8.8% |
| Nokomis | $346K | $360.9K | +4.3% |
Housing Supply in Nokomis, MN
How many homes are available in Nokomis, MN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 128 | 134 | +4.7% |
Summary: The Nokomis real estate market had 134 homes for sale in April 2024, a 4.7% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 3 | +200.0% |
| 2 Bedrooms | 24 | 20 | -16.7% |
| 3 Bedrooms | 54 | 63 | +16.7% |
| 4 Bedrooms | 37 | 36 | -2.7% |
| 5+ Bedrooms | 12 | 12 | 0.0% |
Summary: The Nokomis housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 200%, 2 bedroom homes decreased by 16.7%, 3 bedroom homes increased by 16.7%, 4 bedroom homes decreased by 2.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 41 | 54 | +31.7% |
Asking Price vs. Sold Price
15 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
30 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Nokomis, you could pay more than the asking price. 55.6% of homes here sold above asking price last month.
Summary: A total of 54 homes were sold or pending in Nokomis in April 2024, up by 31.7% month-over-month. Of the 54 sold homes, 28% were sold under asking, 17% were sold at asking, and 56% were sold over asking.
Days on Market for Nokomis, MN
How long does it take to sell a home in Nokomis, MN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 18 Days | 20 Days | +11.3% |
Summary: Homes in Nokomis had an average of 20 days on market in Apr 2024, up by 11.3% compared to last year.
Breakdown of Home Sale Times
42 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Nokomis are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 54 homes were sold in Nokomis; 78% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
